SYNX Has Received Roughly $4 Million in Orders from the IDF & Israeli Police Since the Start of the War
The company has estimated revenues for the six months ended June 30, 2024 to be approximately $5.31 million, highlighting tremendous growth
Silynxcom Secures Multiple Orders from US Federal and Law Enforcement Organizations of its New Tactical System
Revenues for the year ended December 31, 2023 increased to $7.6 million, up 5% from the previous year, reflecting the Company’s ongoing expansion and product adoption
Preliminary unaudited revenue for the three months ended March 31, 2024, that is estimated at $3.525 million, representing an estimated increase of more than 100% compared to the same period in 2023
READ THE INVESTOR PRESENTATION HERE
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Hello Everyone,
We have another company for youth research for Thursday’s session.
It has been a little bit since we last took a look at a defense company. We love this sector and are always excited to put an undiscovered company on your plate so that you can research it.
Pull up SYNX Immediately.
The company put out some substantial news today that you can read down below. The news had major impact, sending SYNX exploding double digits and almost breaching the 4 buck level.
SYNX has a great story behind it.
Since it’s inception, the company has achieved over $150M in revenue from iconic government defense institutions like the CIA, U.S. Army and Marine Corps.
It is estimated that roughly 17% of returning veterans suffer from some form of hearing loss.
Just in March, 250,000 vets reached a $6 billion settlement of a class-action lawsuit alleging popular earplugs used in the Iraq and Afghanistan wars were faulty.
The products are compatible with most radios, smartphones, and intercom systems, including encrypted channels used by tactical and law enforcement units.
Silynx headsets are used by elite US and international warfighters, all levels of law enforcement, including federal, state, and local, and international public safety and security forces. Silynx headset systems protect against impulse and steady-state noises while enabling the user to hear ambient noises, via “hear-thru” functionality, and maintain 360° situational awareness.
Working closely with end users, Silynx integrates feedback from the field into all of its solutions. Compatible with standard military and law enforcement radios and available with a broad range of unique accessories, Silynx headsets can be used in any mission setting, mounted/dismounted, maritime, airborne, or low-vis operations. Silynx solutions provide users with an unparalleled operational edge. Silynx is committed to constant innovation and improvement of products and ideas to meet the continually changing requirements of operators.
Silynxcom Receives New Order Further Expanding Presence in Military Tactical Communication Equipment Market
The tactical sound protection headset market is projected to reach $3.8 Billion by 2027
Company received accumulated orders of approximately $815,000 from the Israel Defense Forces since the beginning of July 2024
Netanya, Israel, July 24, 2024 (GLOBE NEWSWIRE) — Silynxcom Ltd. (NYSE American: SYNX) (“Silynxcom” or the “Company”), a manufacturer and developer of ruggedized tactical communication headset devices has received an additional order from the Israel Defense Forces (“IDF”) for its advanced tactical communication headset devices. This latest order for $315,000 comes after a $500,000 order (both amounts approximate based on current exchange rates) from the IDF was announced by the Company on July 9, 2024. The Company also recently announced on July 9, 2024, a strong performance for the first half of 2024 on a preliminary unaudited basis, including estimated revenue for the six months ended June 30, 2024 of approximately $5.31 million – highlighting accelerated operational and business growth – and cash and cash equivalents and marketable securities of approximately $3.69 million as of June 30, 2024.
Nir Klein, Chief Executive Officer of Silynxcom, said “We are proud to report another order for our advanced tactical communication headset devices from the IDF. We are excited about the opportunity to continue scaling up our revenue growth into our addressable market that is estimated to reach $3.8 billion by 2027 according to the Global Tactical Headset Market Research Report, published by Wantstats Research and Media Pvt Ltd.”
Silynxcom’s tactical communication headset devices are designed to meet the rigorous demands of modern militaries, law enforcement units and industrial and commercial plants.Silynxcom’s products ensure more efficient and safer high-quality audio, clarity and robust communication.
The above preliminary financial information is based upon the Company’s estimates and is subject to completion of its financial closing procedures. Moreover, this preliminary financial information has been prepared solely on the basis of information that is currently available to, and that is the responsibility of, management. The Company’s independent registered public accounting firm has not audited nor reviewed, and does not express an opinion with respect to, this information. This preliminary financial information is not a comprehensive statement of the Company’s revenue and cash and cash equivalents for the six months ended June 30, 2024 and remains subject to, among other things, the completion of the Company’s financial closing procedures, final adjustments, and completion of its internal review for the six months ended June 30, 2024, which may materially impact the results and expectations set forth above. As a result, this preliminary unaudited financial information may differ from the actual results that will be reflected in the Company’s results of operations and financial position as of and for the six months ended June 30, 2024 when they are completed and publicly disclosed. This preliminary unaudited financial information may change. Accordingly, you should not place undue reliance upon these preliminary unaudited estimates.
Silynxcom Secures Multiple Orders from US Federal and Law Enforcement Organizations of its New Tactical System
Netanya, Israel, June 18, 2024 (GLOBE NEWSWIRE) — Silynxcom Ltd. (NYSE American: SYNX) (“Silynxcom” or the “Company”), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, announced that its latest tactical communication system is gaining traction in the U.S. market. Multiple law enforcement and federal organizations have placed orders for the new system, which the Company believes highlights the product’s effectiveness and reliability.
The new In-Ear Headset system, designed to meet the unique requirements of law enforcement and public safety organizations, represents a major innovation in secure and encrypted communication. Compatible with “Project 25 (P25)” and “TETRA”- Terrestrial Trunked Radio communication systems, widely used across the globe, the system ensures seamless integration and superior performance.
Highlights:
Innovative Product Launch: Silynxcom’s latest offering taps into the massive law enforcement communication market, showcasing the Company’s commitment to innovation and its ability to develop products that meet critical market needs.
First-Mover Advantage: With this new system, Silynxcom secures a first-mover advantage in providing high-quality, encrypted communication solutions for law enforcement agencies, offering significant growth potential within the sector.
Market Expansion: These orders pave the way for Silynxcom to expand its footprint globally, particularly in the lucrative European law enforcement market. The Company is strategically positioned to capitalize on new opportunities, aiming to broaden its reach and penetrate new segments within the government sector.
Product Differentiation: The In-Ear Headset system sets a new industry standard with features like superior audio quality, compatibility with a wide range of radio devices, and seamless integration into law enforcement workflows. This differentiation strengthens Silynxcom’s competitive edge and market positioning.
Silynxcom Announces Annual Results for 2023; Positive Cash Flow and Revenue Growth
NETANYA, Israel, April 30, 2024 (GLOBE NEWSWIRE) — Silynxcom Ltd. (NYSE American: SYNX) (“Silynxcom” or the “Company”), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, has released its consolidated financial results for the full year period ended December 31, 2023. The Company has filed its Annual Report on Form 20-F for the year ended December 31, 2023 (the “Annual Report”) with the U.S. Securities and Exchange Commission (“SEC”), which can be accessed on its website at https://www.silynxcom.com/. Shareholders may request, free of charge, a hard copy of the Annual Report, which includes Silynxcom’s complete audited consolidated financial statements for the year ended December 31, 2023, by contacting ir@silynxcom.com.
Key Financial Highlights for 2023:
“2023 was a year of business expansion, growth and strategic investment for Silynxcom, followed by becoming a listed company on the NYSE following a successful IPO in January 2024,” said Nir Klein, Chief Executive Officer of Silynxcom. “Our revenue increased alongside becoming cashflow positive, which we believe underscores our successful market expansion and enhanced financial stability.”
“In 2023, we laid the foundation for new and advanced products and increased compatibility for leading systems in our target markets. In addition, we forged new partnerships with key players in the global defense and law enforcement sectors, which already led to purchase orders in 2024,” added Mr. Klein.
Recent Corporate Highlights:
Use of Non-IFRS Financial Results
In addition to disclosing financial results calculated in accordance with International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board, this press release contains certain financial measures that are not prepared under IFRS. These measures may be different from non-IFRS financial measures used by other companies. The Company defines non-IFRS operating profit (loss) as operating profit (loss) excluding the effect of share-based compensation expenses. The Company defines non-IFRS net income as net income (loss) excluding the effect of share-based compensation expenses and the revaluation of a liability in respect of warrants. The Company’s management believes the non-IFRS financial information provided in this press release is useful to investors’ understanding and assessment of the Company’s ongoing operations. Management also uses both IFRS and non-IFRS information in evaluating and operating business internally and as such deemed it important to provide all this information to investors. The non-IFRS financial measures disclosed by the Company should not be considered in isolation or as a substitute for, or superior to, financial measures calculated in accordance with IFRS and the financial results calculated in accordance with IFRS and reconciliations to those financial statements should be carefully evaluated. Reconciliations between IFRS measures and non-IFRS measures are provided in Appendix A to this press release.
Silynxcom Estimates Revenue Growth of More Than 100% for the First Quarter of 2024
Netanya, Israel, May 13, 2024 (GLOBE NEWSWIRE) — Silynxcom Ltd. (NYSE American: SYNX) (“Silynxcom” or the “Company”), a manufacturer and developer of ruggedized tactical communication headset devices as well as other communication accessories, today provided preliminary unaudited financial results as of and for the three months ended March 31, 2024.
On a preliminary unaudited basis, Silynxcom is reporting a strong performance for the first quarter of 2024, highlighting accelerated operational and business growth including:
“We are proud to report remarkable preliminary results, marked by significant revenue growth. This success has been fueled by our expansion in our marketing efforts, our customer base and our new innovative products. Recent geopolitical events strengthen demand for effective and safe solutions for tactical communication, increasing global awareness of our advanced capabilities,” said Nir Klein, Silynxcom’s Chief Executive Officer.
The above figures represent preliminary unaudited estimates and final quarterly reporting results may vary. The preliminary unaudited results presented reflect the Company’s estimates based solely upon information available and the Company’s final results may differ from these preliminary estimates due to the completion of the Company’s financial closing procedures, final adjustments and other developments that may arise between now and the time such final unaudited financial information is issued. The foregoing forward-looking statements reflect the Company’s expectations as of today’s date.
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